ELCs for SOX Compliance
Navigate the Nuances of SOX Compliance with ELCs
In the ever-evolving landscape of financial regulation and compliance, the Sarbanes-Oxley Act (SOX) stands as a beacon of integrity, demanding transparency and accountability from public companies. At the heart of adhering to these standards lies the implementation and maintenance of robust Entity Level Controls (ELCs). It's not just about ticking boxes; it's about building a foundation of trust and reliability in your financial reporting.
Introducing Our ELCs for SOX Compliance CPE Training Program
We've designed this CPE program with a deep understanding of the challenges and complexities you face in aligning with SOX requirements. This isn't just another CPE training session; it's a comprehensive journey through the intricacies of ELCs, tailored specifically for internal audit and internal control professionals in the public company sphere.
Why This Matters to You
Imagine having a clear, actionable plan for assessing, implementing, and monitoring the ELCs that safeguard your organization's financial integrity. Picture yourself confidently navigating the regulatory landscape, armed with the knowledge to not only meet but exceed compliance standards for ELCs. That's the power of mastering ELCs for SOX compliance.
What You Will Experience
Our CPE program is structured to provide an in-depth exploration of ELCs within the context of SOX compliance, covering:
- Regulatory Requirements: A thorough understanding of what SOX demands regarding ELCs.
- Assessment and Planning: Practical skills for evaluating current controls and developing a robust plan for ELC implementation.
- Implementation and Testing: Insights into putting your plan into action and ensuring your ELCs are both effective and compliant.
- Documentation and Reporting: Guidance on maintaining comprehensive records that stand up to scrutiny and support ongoing compliance.
- Best Practices: Strategies for keeping your ELCs current and effective, including continuous monitoring and adaptation to regulatory changes.
Event Details
- When: Offered every six weeks on Thursdays, 10:00 a.m. to 2:30 p.m. Central Time
- CPE Credits: Earn 4 CPE credits in Auditing
- Level: Intermediate to Advanced
- Prerequisites: A foundational knowledge of internal control frameworks
- Format: On-site Training (Group-Live); Seminar (Group-Live)
- Field of Study: Auditing
Learning Objectives
By the end of this CPE training program, you will be equipped to:
- Understand and articulate the significance of ELCs in SOX compliance.
- Assess your organization's current ELCs, identifying areas for enhancement.
- Develop and implement a comprehensive plan for ELCs that meets SOX requirements.
- Test and monitor your ELCs, ensuring they effectively mitigate risk and ensure compliance.
- Document and report on your controls, providing transparency and accountability.
- Apply best practices for maintaining and updating your ELCs, staying ahead of regulatory changes.
Join Us
This program is more than just a seminar; it's an investment in your professional growth and your organization's future. With hands-on exercises, case studies, and expert guidance, you'll leave not just with knowledge, but with practical tools and strategies to make a tangible impact in your role.
Ready to take the next step in your SOX compliance journey?
Join us at our next session and transform your approach to entity level controls under the COSO internal control framework.
Together, let's navigate the complexities of SOX compliance with confidence and integrity.
Details on Event Presentation
Offered every six weeks on Thursdays at 10:00 a.m. to 2:30 p.m. Central Time in four CPE-Credit event.
We can schedule private events on your timetable for two or more attendees.
NASBA Program Disclosure
Program Level of Understanding: Intermediate to Advanced
Prerequisites: Participants should come with a knowledge of internal control frameworks.
Advance Preparation: None.
Delivery Format: On-site Training (Group-Live); Seminar (Group-Live)
NASBA Field(s) of Study: Auditing
CPE Credits: 4, based on 50 minutes of instruction per hour.CPE Event Highlights
This CPE event covers the following actions concerning ELCs required for Sarbanes-Oxley ICFR annual compliance programs:
1. Assess the company's current ELCs: Identify the key areas of financial reporting that are relevant to the company and evaluate the existing ELCs in place to ensure their effectiveness.
2. Develop a plan for the necessary ELCs: Based on the assessment, develop a plan that outlines the specific ELCs that need to be put in place to comply with Sarbanes-Oxley requirements.
3. Implement the controls: Put the ELCs in place, including any necessary changes to processes, procedures, and systems.
4. Test the controls: Using a “control self-assessment program” to regularly test the ELCs to ensure they are working as intended and are effective.
5. Document the controls: Keep detailed documentation of the ELCs, including the assessment, plan, implementation, testing, and any updates made over time.
6. Monitor and report: Regularly monitor the ELCs and report any deficiencies to the appropriate parties, including management and the audit committee.
Learning Objectives
The Learning Objectives include:
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Understand the importance of establishing ELCs in a Sarbanes-Oxley compliance program.
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Comprehend the regulatory requirements for ELCs in the Sarbanes-Oxley Act (SOX).
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Assess the current ELCs of an SEC registered organization and identify key areas of financial reporting that are relevant to the company.
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Develop a plan for ELCs that outlines the specific controls that need to be put in place to comply with SOX requirements.
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Implement ELCs, including any necessary changes to processes, procedures, and systems.
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Test the ELCs to ensure they are working as intended and are effective in detecting and preventing errors or fraud.
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Document the ELCs, including the assessment, plan, implementation, testing, and any updates made over time.
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Monitor the ELCs and report any deficiencies to the appropriate parties, including management and the audit committee.
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Identify best practices for maintaining effective ELCs over time, including continuous monitoring and regular updates to stay current with regulatory requirements.
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Apply the concepts and techniques learned during the training through hands-on exercises and case studies.
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Evaluate the effectiveness of entity level controls in an insurance organization and provide recommendations for improvement fo the ELCs.
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Gain knowledge of the latest trends and challenges in ELCs.
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Key Issues on the Agenda
1. Introduction to Entity Level Controls (ELCs) and their importance in ensuring compliance and mitigating risk in an SOX compliance program.
2. Overview of regulatory requirements for ELCs, including the Sarbanes-Oxley Act (SOX).
3. Assessment of current ELCs: Identifying key areas of financial reporting and evaluating existing controls in place to ensure their effectiveness.
4. Planning and Implementation: Developing a plan for ELCs and putting controls in place, including any necessary changes to processes, procedures, and systems.
5. Testing and Monitoring: Regularly testing the controls to ensure they are working as intended and are effective in detecting and preventing errors or fraud.
6. Documentation and Reporting: Keep detailed documentation of the controls, including the assessment, plan, implementation, testing, and any updates made over time.
7. Best practices for maintaining effective ELCs in an SOX compliance program over time, including continuous monitoring and regular updates to stay current with regulatory requirements.
8. Conclusion and next steps for ongoing compliance and risk management efforts in the SOX compliance program.
Summary of the Subject Matter
The ELCs for SOX Compliance CPE program is a training program designed for internal audit professionals in the public compnay that has to comply with the Sarbanes-Oxley Aact (SOX). The program provides an in-depth understanding of how to establish entity level controls for SOX compliance.
The program covers the SEC regulatory requirements for ELCs, assessment of current ELCs, planning and implementation of new controls, testing and monitoring, documentation and reporting, and best practices for maintaining effective controls.